5 Luxurious Valentine's Day Experiences in New York City

New York City offers an array of opulent experiences for affluent residents seeking to celebrate Valentine's Day in style. From exclusive dining to indulgent spa treatments, here are five exceptional ways to make Valentine's Day 2025 in NYC truly unforgettable.

1. Indulge in Exquisite Dining at New York's Newest Fine Dining Establishments

Experience the culinary delights of the city's latest upscale restaurants:

• Kancil: Located on the Upper West Side, Kancil offers Malaysian-inspired dishes crafted by renowned chef Simpson Wong. The family-style menu features specialties like Pulut Panggang and Sarawak Laksa, providing a unique and intimate dining experience.

• Oncheon: Situated on Fifth Avenue, Oncheon presents innovative Korean cuisine with standout dishes such as Bulgogi Gujeolpan and Sukiyaki shabu shabu. Complement your meal with unique cocktails like the GAT fashioned for a memorable evening.

• Le Jardin: Nestled in the Lower East Side, Le Jardin offers a taste of French elegance with classics like escargots and steak au poivre, accompanied by a curated wine list. The romantic ambiance makes it an ideal choice for Valentine's Day.

Tips for Securing Reservations:

• Book early to ensure availability, as these venues are in high demand.

• Utilize concierge services or reservation platforms to secure optimal seating arrangements.

2. Experience Ultimate Relaxation with Exclusive Spa Packages

Pamper yourselves with luxurious spa treatments designed for couples:

• Baccarat Hotel's Spa de La Mer: The "Blissful Amour" package includes a couples massage followed by a private poolside cabana experience, complete with champagne and chocolate-covered fruit. This indulgent offering ensures a serene and romantic retreat.

• The Peninsula Spa: Known for its holistic approach, The Peninsula Spa offers Valentine's Day specials that include aromatherapy massages and access to private relaxation lounges, providing a tranquil escape from the city's hustle and bustle.

Booking Recommendations:

• Schedule treatments well in advance to secure preferred times.

• Inquire about customizable packages to tailor the experience to your preferences.

3. Embark on a Romantic Sunset Cruise Along the Hudson River

Savor breathtaking views of Manhattan's skyline aboard a luxury yacht:

• Classic Harbor Line: Offers intimate cruises featuring gourmet dining, live jazz music, and panoramic views of iconic landmarks such as the Statue of Liberty and Brooklyn Bridge.

• Bateaux New York: Provides an elegant glass-enclosed vessel experience, allowing for unobstructed views of the cityscape while enjoying a chef-curated menu and live entertainment.

Booking Tips:

• Review package inclusions carefully to ensure they meet your expectations.

• Consider add-ons like private tables or premium champagne selections for an enhanced experience.

4. Discover a Hidden Gem: Private Art Tours & After-Hours Museum Experiences

Immerse yourselves in the city's rich cultural offerings with exclusive access:

• The Metropolitan Museum of Art: Arrange a private, after-hours tour to explore world-class collections without the usual crowds, providing an intimate and personalized experience.

• MoMA's VIP Tours: Experience modern art masterpieces with a dedicated guide, offering insights into the artworks and the opportunity to appreciate them in a serene setting.

Enhancing the Experience:

• Pair the art tour with a bespoke dining experience, such as a champagne toast at The Met’s Balcony Lounge or a post-tour meal at The Modern.

• Opt for a guided tour by an art historian for a truly immersive cultural evening.

5. Attend a World-Class Performance at Lincoln Center

Enjoy an evening of culture and sophistication:

• New York City Ballet: Experience a captivating performance by one of the world's leading ballet companies, offering special Valentine's Day shows that promise to enchant.

• The Metropolitan Opera: Indulge in an operatic masterpiece, with productions that combine stellar performances with breathtaking set designs.

Enhancing the Experience:

• Book premium seats or private boxes for an intimate setting.

• Consider pre-show dining at upscale restaurants within Lincoln Center, such as The Grand Tier Restaurant, to complete the evening.

Conclusion

Planning ahead is essential to secure these exclusive experiences for Valentine's Day 2025 in NYC. The city offers unparalleled options for an unforgettable celebration. Explore these suggestions to create lasting memories with your loved one.

Café Commerce: A Must-Try Addition to the Upper East Side's Revitalized Dining Scene

The Upper East Side's culinary landscape is experiencing a renaissance, and the arrival of Café Commerce is a testament to this exciting transformation. Relocating from its original West Village location, this beloved establishment brings its celebrated dining experience uptown, offering both loyal patrons and newcomers a reason to explore the neighborhood's evolving gastronomic offerings.

The Legacy of Commerce

Originally nestled in the West Village, Commerce was renowned for its inviting ambiance and delectable dishes. Under the guidance of Chef Harold Moore, the restaurant garnered acclaim for:

• A warm, bistro-inspired setting.

• Signature dishes that delighted diners.

• A reputation as a cherished neighborhood gem.

Now, with its move to the Upper East Side, Café Commerce aims to recreate and elevate this beloved experience.

Café Commerce: The Reimagined Experience

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Located at 964 Lexington Avenue, Café Commerce offers:

• Intimate Dining: A 55-seat bistro setting that ensures a cozy and personalized experience.

• Artistic Ambiance: Saffron-colored walls and coffered ceilings designed by Paul Dennis, complemented by a striking 19-foot mural of Saint Sebastian by David Joel above the bar.

• Culinary Excellence: A menu that pays homage to the original Commerce while introducing new delights.

Culinary Highlights

Chef Harold Moore has curated a menu that balances nostalgia with innovation. Notable offerings include:

• Roast Chicken for Two: A signature dish featuring foie gras bread stuffing, reminiscent of the original's famed roast chicken.

• Sweet Potato Tortelloni: A delightful pasta option that showcases the chef's inventive flair.

• Curated Beverage Program: An array of thoughtfully selected wines and a martini menu to complement the dining experience.

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The Upper East Side's Culinary Renaissance

Café Commerce's move is part of a broader trend of esteemed downtown establishments migrating uptown, signaling a revitalization of the Upper East Side's dining scene. Other notable openings include:

• American Bar: Set to open at 1022 Lexington Avenue, bringing its celebrated menu to the neighborhood.

• Mamoun's Falafel: A popular Middle Eastern chain that has recently opened at 1105 Lexington Avenue.

• San Babila: A full-service Italian restaurant planned for 1355 Second Avenue.

These developments are reshaping the Upper East Side into a vibrant culinary destination, attracting food enthusiasts from across the city.

Why Café Commerce is a Must-Visit

Café Commerce seamlessly blends the charm of its West Village origins with the sophistication of its new uptown locale. Diners can expect:

• A Warm and Inviting Atmosphere: Thoughtful design elements create a space that feels both familiar and fresh.

• Exceptional Cuisine: A menu that honors beloved classics while embracing new culinary creations.

• Personalized Service: A commitment to providing an outstanding dining experience for every guest.

Plan Your Visit

Café Commerce is located at 964 Lexington Avenue, between East 70th and 71st Streets. Reservations are recommended to ensure a table at this highly anticipated establishment.

Experience firsthand how Café Commerce and other new restaurants are contributing to the Upper East Side's dynamic culinary revival. Whether you're a longtime resident or a curious foodie, now is the perfect time to explore the neighborhood's burgeoning dining scene.

2024 NYC Holiday Tipping Guide: How Much Should I Tip Building Staff?

The Holiday Season has officially kicked off. With Black Friday and Thanksgiving over, holiday decorations are going up across town. With the arrival of the Holiday Season comes the question on the mind of many - “How Much Should I Tip?”

Building staff in Residential New York City buildings have been essential to all residents throughout the evolving pandemic. Building Staff have been responsible for increased cleaning protocols, receiving and managing an exponential increase in deliveries, and checking in on vacant apartments for residents that have escaped to second homes.

We’ve adjusted our annual tipping guide to account for the continued inflation being experienced in 2024. Giving additional this year will be appreciated by workers bearing the brunt of increased prices. If you are considering giving more this year to your valued Building Staff and are concerned they will expect this amount in future years, consider stating in your note with the tip how grateful you are for all they’ve done during this challenging year to set expectations. 

Our friends at Brick Underground publish a go-to holiday tipping guide, which has been circulating since 2013. We condensed it, and put our take on what is appropriate as you budget for your holiday tipping. Remember, these are simply guidelines. There are many factors that can influence the tipping decision such as the size of the building (a larger staff equates to smaller individual tips), level of service, seniority, and time in building. Additionally, owning versus renting in a building can play a big factor as well.

Of course, if you live in a building with a part-time doorman, virtual doorman, or no staff at all, the below levels could be adjusted downward.

Renters: Tips do not have to equate to the dollar amount you are paying each month for rent. If you receive a lot of packages, have a stroller that is carried in and out of the building, etc., factor this into your tip. 

It is recommended that you tip in cash. Doorman, Concierge, Supers, etc. all of bills to pay like you and I- they are not looking for fruit cakes, cookies, or homemade gifts at the holidays!

Many buildings have organized drop off locations for your tips.

Tipping Guidelines

Super: $195-$245

Doorman/Concierge: $170-$220

Package Room: $95-$115 per individual* 

Housekeeper: 1 Week Salary

Dog Walker: 1 Week Salary

Garage Attendant: $95-$145

Personal Trainer: $145

Personal Assistant: 1 Week Salary

Hairdresser: $100-$140

*It important to remember all the people fielding the large increase in orders you are placing and the sheer volume of orders they are now receiving, just for you alone. We are all ordering more online than ever before from clothes to groceries and meals. From Uber Eats to Amazon and every shopping destination in-between, there is no denying that we all place significantly more online orders than prior to the pandemic. We recommend tipping Package Room staff more than previous years. In most buildings it will be the package room employees, however, Doormen/Concierge are likely fielding these requests after hours.

When: Most building staff will prefer to receive their tips in early December so they can plan their own holiday spending accordingly. Tips account for a large part of building staff’s anticipated income at this time of year.

Mother's Day in NYC: Ideas & Experiences for the Discerning Mom

Mother’s Day is quickly approaching - have you made your plans? There are plenty of activities to indulge in and gifts to give that will make this Mother's Day unforgettable in NYC, so if you are looking for inspiration for how to spend the weekend with mom, you are in luck. We’ve rounded up a curated selection of activities outside of the usual brunch designed to pamper and spoil Mom in the luxurious style she deserves.

At The Victoria Shtainer Team, we understand the important of unique experiences. We're not just NYC real estate experts, we're lifestyle connoisseurs, always seeking out the best of what is happening around New York City. So, let's turn Mom's special day into an unforgettable adventure in the heart of the city.

Unique Mother’s Day Ideas in NYC

For the Music Lover: Surprise Mom with tickets to a special exhibit – "Paul McCartney Photographs 1963-2020" at the Brooklyn Museum. This immersive experience allows her to relive iconic moments in music history.

For the Flower Fanatic: Immerse Mom in a world of floral wonder at "Bloomtanica" by famed floral designer Jeff Leatham. This captivating walkthrough installation at Genesis House in the Meatpacking District is a feast for the senses, guaranteed to leave a lasting impression.

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For the Foodie: Treat Mom to a culinary experience at Tatiana, the hottest new restaurant at Lincoln Center by star chef Kwame Onwuachi which he calls his Love Letter to New York. Menu items include, Chinese take-out-inspired mushrooms, crab rangoon with oxtail, and shawarma roasted chicken. Those looking to splurge should order the tender short rib pastrami suya. Served with a pull-apart caraway bread, “melted” red cabbage, and a take on Russian dressing.

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Elevate the Experience

For an extra touch of luxury, consider adding these personalized details - sometimes the little touches and thoughtful gifts make the biggest impact.

• Floral Extravagance: Instead of a standard bouquet, create a custom floral arrangement with Mom's favorite blooms – imagine a stunning combination of lilacs and peonies for a truly springtime feel.

• In-Home Spa Day: Arrange for a private massage therapist or hairstylist to visit your home, transforming it into a personal spa sanctuary.

• The Gift of Time: Free up Mom's schedule by arranging for grocery delivery or a housecleaning service. This allows her to truly relax and enjoy her special day.

Conquering the NYC Skyline: Unveiling the Allure of NYC Trophy Properties

Imagine sprawling private terraces with breathtaking cityscapes, unparalleled amenities catering to your every whim, and a residence designed by the world's most renowned architects. This isn't a fantasy; it's the reality of trophy properties, the pinnacle of luxury living that has taken the NYC real estate market by storm. But what exactly defines these coveted residences, and are they the right investment for you? Delve deeper and discover why trophy properties are the ultimate status symbol and a strategic investment of choice for discerning individuals.

Unveiling the Allure of NYC Trophy Properties

• Unmatched Luxury and Exclusivity: Trophy properties boast features that redefine luxury living. Imagine private infinity pools, winter gardens, home theaters, and smart automation systems seamlessly integrated into your residence. These architectural marvels offer not just comfort, but an unparalleled living experience reserved for an elite few. Additionally, they are typically in highly exclusive buildings that have unmatched amenities compared to other luxury nyc apartment buildings.

• Investment Potential and Appreciation: Beyond the undeniable luxury, trophy properties hold immense value as investments. Due to their limited availability, uniqueness, and high demand, trophy properties often appreciate significantly over time. This, coupled with their potential to hedge against inflation, makes them a strategic asset for high-net-worth individuals seeking to diversify their portfolios.

A Status Symbol and Architectural Marvels: Owning a trophy property is akin to owning a piece of art. These residences are often designed by world-renowned architects and boast distinctive features that become iconic landmarks within the city skyline. Living in a trophy property isn't just about comfort; it's a statement about your taste, success, and connection to the city's vibrant cultural scene.

Considering a Trophy Property Investment in NYC

• Financial Considerations: While the allure of trophy properties is undeniable, it's crucial to acknowledge the significant financial commitment required. These residences come with hefty price tags and ongoing maintenance costs. Carefully assess your financial situation and investment goals before embarking on this path.

• Working with a Qualified Real Estate Agent: Navigating the complexities of the trophy property market requires guidance from a knowledgeable and experienced real estate agent. Often times, trophy properties located in new developments are highly exclusive, and the industry and inside relationships that a local real estate agent has will be crucial to gaining access and securing your NYC trophy apartment. Look for an agent specializing in luxury properties who understands the nuances of this market and can secure the best deals while ensuring a smooth transaction process.

Conclusion

Trophy properties offer the ultimate combination of luxury living, investment potential, and prestigious ownership. If you're a high-net-worth individual seeking a remarkable residence in NYC, a trophy property might be the perfect fit. However, careful consideration and expert guidance are crucial before making this significant investment.

Ready to Explore NYC's Trophy Property Market?

Contact our team of NYC luxury property specialists today for a personalized consultation. We'll guide you through the intricacies of this market, identify properties that align with your needs, and help you navigate the path to owning a piece of the NYC skyline.

Love & Luxury: Valentine's Day in NYC - Top Things to Do & Gift Ideas

Whether you're a seasoned New Yorker or a love-struck visitor, the Big Apple offers a dazzling array of experiences to make your February 14th truly unforgettable. From laughter-filled evenings to romantic gestures, here are some ideas to spark your Valentine's Day in NYC:

For the Laugh-Loving Couple:

An Evening with Andrew Dice Clay: Dial up the heat with tickets to the legendary Andrew Dice Clay's Valentine's Day performance at The Theater at Madison Square Garden. This iconic comedian's signature blend of humor and heart is sure to leave you both in stitches.

Gifts that Whisper "I Love You":

The Power of Fragrance: Scent has one of the strongest ties to memory. Indulge your loved one with a luxurious perfume from a renowned NYC fragrance boutique. Explore the unique scents at Byredo, Le Labo, or Kilian Paris, and find a fragrance that perfectly captures their personality.

Shop Fragrance Favorites:

Blooms that Mimic Art: Ovando takes a unique approach to floral arrangement, creating stunning displays both classic and modern. Quality and craftsmanship defines the brands beautiful arrangement. The store, dubbed the Botanical Gallery, is a experience not worth being passed up, and can also be rented for private events.

The Valentine’s Day collection is filled with everything from heart-shaped arrangements to iconic Ovando arrangements in beautiful pink and red colors. Our team favorite is the iconic floating orchids for which Ovando is known.

Beyond the Obvious: Unique NYC Experiences:

Glide Under the Stars: Take a romantic ice skating session at Wollman Rink in Central Park, with the glittering cityscape as your backdrop. Warm up afterwards with hot cocoa or cider at the rink-side cafe.

A Culinary Adventure: Embark on a progressive dinner date, exploring different courses at acclaimed restaurants across the city. From Michelin-starred establishments to hidden gems, NYC's culinary scene offers endless possibilities.

Soak in the City Views: Enjoy breathtaking panoramas of the city from one of New York's many observation decks. The Top of the Rock, The Edge at Hudson Yards, and SUMMIT One Vanderbilt offer stunning vistas and unforgettable moments.

Artful Date Night: Immerse yourselves in the world of art with a visit to a renowned museum like the Metropolitan Museum of Art or the Museum of Modern Art. Special exhibitions and late-night events offer unique experiences for art enthusiasts.

Living Your NYC Dream:

As your neighborhood luxury real estate experts, The Victoria Shtainer Team understands the allure of New York City and its endless possibilities. Whether you're looking for a romantic pied-à-terre or a spacious family home, we're here to help you find your perfect piece of the Big Apple dream

Treat them to the Ultimate Gift: The Gift of a New Home Together

What better way to express your love and commitment than by gifting your partner a symbol of your future together: a new home in the heart of New York City? One of our favorite areas to capitalize on the current market is within new development. Below are some of our favorite NYC new developments from Downtown to the Upper East Side.

One Wall Street

Experience the allure of historic charm with a modern twist at One Wall Street. This iconic Art Deco skyscraper has been transformed into a luxury residential building offering stunning financial district views, spacious layouts, and unparalleled amenities like a rooftop terrace, indoor pool, and fitness center.

The Lantern House at 515 West 18th Street

Nestled in the vibrant Chelsea neighborhood, 515 West 18th Street offers intimate luxury living with a focus on art and design. Featuring a unique lantern-shaped facade, the building boasts beautifully crafted residences with private balconies and access to a landscaped rooftop terrace, residents' lounge, and fitness center.

The Wales at 1295 Madison Avenue

Embrace sophisticated Upper East Side living at 1295 Madison Avenue. This elegant limestone building offers spacious, sun-drenched apartments with classic finishes and high-end appliances. Residents enjoy a tranquil setting with close proximity to Central Park, world-class museums, and renowned boutiques. A classic New York address with a touch of modern luxury.

Sky-High Living: Opulent Penthouse Apartments in Premier Residential Real Estate Markets

Imagine residing at the very top of luxury living where features you only find in luxury homes become a part of your everyday life. In the esteemed world of high-end real estate, the penthouse apartment is the ultimate symbol of status and sophistication, showcasing these exclusive features in full glory. Today, we explore the most extravagant penthouse suites in New York City, Los Angeles, and Miami. These coveted locations are the embodiment of premier residential real estate markets. Each offers a distinct flavor of opulence and grandeur, complete with the unique features that define luxury living.

New York City: The Symbol of Urban Elegance

In the center of this busy metropolis, New York City's penthouses offer an unrivaled blend of luxury and city life. Historically, these residences were exclusive sanctuaries for the affluent, exuding class and a sense of higher living. However, contemporary NYC penthouses at 432 Park Avenue or One57 are more than just living spaces. They are architectural masterpieces. They feature expansive, open-plan living areas, high ceilings, and floor-to-ceiling windows that offer some of the most sought-after views in New York. Additionally, penthouses have become a popular choice for those looking for the space that a townhouse typically offers, but with potentially single floor living. Some buildings in NYC have penthouses that are comprised of a full floor, making them expansive in square feet.

Thus, purchasing a penthouse in NYC is more than an acquisition; it's a lifestyle choice. The market targets a diverse clientele, ranging from Wall Street executives to international billionaires seeking a piece of this urban paradise. These penthouses, priced upwards of tens of millions, offer exclusive amenities such as private elevators, rooftop gardens, 24-hour concierge services, and resident-only restaurants.

New York City is one of the premier real estate markets offering access to the lively urban lifestyle and modern amenities.

Los Angeles: Exclusive Heights

In Los Angeles, opulent penthouse suites offer breathtaking views of the cityscape, Pacific Ocean, and Hollywood Hills. Iconic developments like Century Plaza redefine extravagance with amenities such as private rooftop terraces, infinity pools, and even helipads. These penthouses, personalized by top interior designers, feature high-end appliances and expansive living spaces, making them a symbol of status and sophistication.

These luxurious properties, located in coveted neighborhoods like Beverly Hills, Bel Air, and Hollywood Hills, attract some of the biggest names in entertainment and business. The Los Angeles market, known for its privacy, prestige, and access to high-end lifestyle amenities, continues to thrive due to its high demand and limited supply.

Los Angeles offers opulent penthouses for a select few

Miami: Where Opulence Meets the Ocean

Miami presents a unique blend of beachfront luxury and urban sophistication. Specifically, the penthouses in Miami embody a lifestyle that celebrates the sun, sea, and luxury. These residences often feature avant-garde design with art-deco elements, spacious terraces overlooking the ocean, and interiors adorned with high-end finishes and state-of-the-art technology.

The real estate market in Miami is as dynamic as the city itself, appealing to a wide range of buyers, from local entrepreneurs to international investors. These properties offer access to a lively lifestyle rich in culture, entertainment, and luxury. Miami's penthouses have amenities like private yacht docks, infinity pools, and exclusive club memberships.

In Miami, you’ll find beachfront luxury combined with the lively urban atmosphere

The Future of Penthouse Living

The future of luxury penthouse living is full of possibilities. For instance, we are witnessing emerging trends like eco-friendly designs, smart homes equipped with the latest technology, and amenities that cater to health and wellness. These advancements in luxury living represent a shift toward sustainable and intelligent living spaces that align with contemporary lifestyle needs.

How to Find the Perfect Penthouse Apartment

When it comes to finding the perfect opulent penthouse apartment in these premier residential real estate markets, the task can be as exhilarating as it is daunting. Therefore, the key to navigating this sophisticated terrain is to partner with a real estate agent specializing in luxury markets. Let's see why this is so important and how it can make your quest for the ultimate penthouse a successful and enjoyable experience.

1. Expert Knowledge of the Luxury Market

Luxury real estate agents possess an in-depth understanding of the high-end market dynamics. Specifically, they have their fingers on the pulse of the latest trends, price fluctuations, and available properties in premium locations. Furthermore, they have insights into exclusive listings that might not be publicly advertised, offering you access to hidden gems.

2. Tailored to Your Unique Preferences

Your ideal penthouse is a space that resonates with your style, preferences, and lifestyle. Thus, a specialized real estate agent takes the time to understand what makes you tick. Afterward, they curate selections that align with your specific desires. As a result, they save you time and present options that match your dream specifications.

3. Networking and Connections

Luxury real estate agents have an extensive network of contacts. These often include property developers, previous high-net-worth clients, and insiders in the luxury market. This network is invaluable in finding the right penthouse. Whether getting early access to a new listing or finding a property that meets specific demands, these connections can be the key to unlocking the door to your dream penthouse.

4. Negotiation and Closing Skills

The stakes are high in the luxury real estate market, and so are the price tags. However, a skilled agent excels in negotiations and can get you the best possible deal. Furthermore, they understand the nuances of high-end transactions, can navigate complex legalities, and make sure the entire process is smooth and favorable to you.

5. Discretion and Privacy

Discretion is a must in luxury real estate dealings. You want an agent who respects your privacy and can handle transactions with the utmost confidentiality. This is especially important for high-profile clients who prefer to keep their real estate ventures out of the public eye.

6. After-Sale Services

The relationship with your luxury real estate agent doesn't end with the purchase. They can also provide after-sale services, such as connecting you with interior designers specializing in luxury homes or property management services to maintain your penthouse in pristine condition, especially if it's a secondary or vacation home.

At the same time, they can put you in touch with highly experienced movers, like U. Santini Moving and Storage New York, who can guarantee a smooth transition to your new luxury home. With over 90 years of expertise, this family-owned business also provides professional packing and dedicated support. So, you can simply relax and let them take care of everything.

Your Sky-High Dream Awaits

In summing up our exploration through the premier residential real estate markets, one thing is clear – each location offers a unique interpretation of what it means to live in luxury. As you contemplate your next real estate venture, remember that a penthouse is also a reflection of your lifestyle, your achievements, and your aspirations.

Navigating the New NYC Real Estate Commission Rules: Why Your Dream Home Deserves Expert Representation

The Real Estate Board of New York announced changes to commission structures effective 1/1/24

 As of January 1, 2024, a significant shift has reshaped the New York City real estate landscape, particularly regarding buyer's agent commissions. While this change offers flexibility, it also underscores the crucial role experienced buyer's agents play in securing your dream home in this dynamic market. Let's explore the revised landscape and why partnering with a skilled professional remains your wisest move for navigating the NYC luxury home buying journey.

Understanding the New Commission Landscape:

Gone are the days of a single, standardized commission paid solely by the seller. Historically, the Real Estate Board of New York (REBNY) dictated a standard commission structure where the seller's agent received 6% of the sale price, typically split 50/50 with the buyer's agent, thus commission costs for a real estate transaction were covered by the seller.

At face value of the new regulation, Buyers now have the choice to engage with an agent through traditional representation (paying the 3% buyer's agent fee) or explore alternative models. Under the new regulations, the responsibility of a Buyer’s Agent commission is now on the Buyer. While this flexibility may seem appealing, navigating the complexities of a luxury real estate transaction without expert guidance can pose significant risks.

Why a Buyer's Agent Remains Indispensable in NYC:

Protecting Your Interests: The seller's agent advocates for the seller's best interests. Entering such a high-stakes negotiation solo leaves you vulnerable to potential biases and overlooks in favor of the seller. Conversely, a dedicated NYC luxury buyer's agent champions your needs every step of the way, ensuring a level playing field and advocating for the best possible terms in your NYC luxury home purchase.

Financial Savvy: While the new structure shifts the commission burden, an experienced agent can still negotiate advantageous terms for you. Their deep understanding of the NYC luxury market and pricing nuances can lead to substantial savings, often exceeding the cost of their fee. Remember, their expertise extends beyond the commission; they can negotiate favorable closing costs and even potential concessions from the seller, impacting your overall NYC luxury home buying cost.

Unparalleled Expertise: The intricacies of a luxury real estate transaction can be daunting. From navigating complex board package requirements to securing the most competitive mortgage rates, a skilled agent acts as your trusted advisor. They handle the legwork, paperwork, and negotiations, freeing you to focus on finding the perfect NYC luxury property.

Peace of Mind: Buying a luxury home in NYC is an emotional journey. Having a seasoned professional by your side provides invaluable support and guidance. They handle unforeseen challenges, anticipate potential roadblocks, and ensure a smooth, stress-free transaction, allowing you to savor the excitement of acquiring your dream property.

The Ultimate Investment:

While the revised commission structure presents an option for solo navigation, remember, a luxury real estate transaction in NYC is not just about a roof over your head; It's an investment in one of your largest assets, your future, and your peace of mind. In this competitive market, partnering with a seasoned buyer's agent is not just an expense; it's a strategic investment that safeguards your interests, maximizes your benefits, and delivers the confidence of knowing you're securing your dream NYC luxury home on the most favorable terms possible.

Don't settle for anything less than exceptional representation – your dream NYC home deserves it. Contact The Victoria Shtainer Team today and let our expertise guide you through every step of your luxury real estate journey.

2024 Predictions for New York City Luxury Real Estate

The dust has settled on the turbulent waves of 2023, and 2024 emerges with a distinct undercurrent – optimism. Consumer confidence is rising, whispers of rate cuts echo through the market, and a sense of cautious optimism prevails. This shift sets the stage for a potentially transformative year in New York City's luxury real estate landscape, one ripe with opportunities for both buyers and sellers.

As we navigate the year ahead, here are some key trends to keep your eyes on:

Interest Rate Cuts: Fueling the Fire

The market anticipates upwards of three interest rate cuts throughout 2024, a potential game-changer for buyer sentiment. Lower mortgage rates could reignite activity, creating a more favorable environment for those looking to make their move. This renewed optimism, coupled with easing financial constraints, could lead to a surge in buyer interest, particularly in the higher price brackets. The prospect of reduced borrowing costs is expected to significantly influence the decision-making process for both first-time homebuyers and seasoned investors.

Renter Relief: A Glimmer of Hope

For renters, 2024 may bring a welcome respite from the record highs of 2023. With a projected increase in listings, particularly in apartments under $4,000, rents are expected to stabilize, potentially even dip slightly. This shift in the rental landscape could empower renters with greater negotiating power and provide them with better bargaining opportunities. Additionally, the traditional seasonality of the rental market is likely to hold true, offering prime deals for those willing to brave the winter months.

Inventory Easing: A Gradual Shift

While inventory challenges may linger in specific price points, particularly at the ultra-luxury end, a gradual improvement is anticipated in 2024. Lower interest rates could entice more sellers to list their properties, confident in their ability to move onto their next home without the burden of high mortgage payments. However, it's important to remember that a significant portion of homeowners still enjoy historically low rates, making a mass influx of listings unlikely. Still, a modest increase in inventory is expected, providing buyers with a wider selection and potentially more negotiating leverage.

Price Right to Sell: The Golden Rule

In this evolving market, accurate pricing will be paramount. Properties priced competitively, or even slightly under market value, are likely to attract a flurry of buyers and potentially spark bidding wars. Conversely, overpriced listings may languish on the market, requiring iterative price reductions to attract interest. Sellers who collaborate with experienced real estate professionals to determine the optimal pricing strategy will be well-positioned to navigate this dynamic market and achieve their desired outcome.

2024 promises to be a year of adaptation and opportunity in NYC's luxury real estate market. By staying informed of these key trends, both buyers and sellers can make informed decisions, optimize their strategies, and navigate the turn of the tide with confidence. Whether you're looking to capitalize on the potential of lower rates, find your dream home in a more balanced market, or negotiate a favorable deal as a renter, the year ahead holds exciting possibilities, and The Victoria Shtainer Team is here to be your trusted NYC Real Estate Experts.

We pride ourselves on being at the forefront of this dynamic and competitive industry, offering our clients an unmatched level of service, market knowledge, and access to exclusive listings. Whether you're buying, selling, or investing in luxury real estate, partnering with our team means gaining a strategic advantage that will elevate your experience and ensure a seamless transaction. Trust in our expertise and dedication to exceed your expectations, and let us guide you through the unparalleled world of Manhattan luxury real estate.

2023 NYC Holiday Tipping Guide: How Much Should I Tip Building Staff?

The Holiday Season has officially kicked off. With Black Friday and Thanksgiving over, holiday decorations are going up across town. With the arrival of the Holiday Season comes the question on the mind of many - “How Much Should I Tip?”

Building staff in Residential New York City buildings have been essential to all residents throughout the evolving pandemic. Building Staff have been responsible for increased cleaning protocols, receiving and managing an exponential increase in deliveries, and checking in on vacant apartments for residents that have escaped to second homes.

We’ve adjusted our annual tipping guide to account for the continued inflation being experienced in 2023. Giving additional this year will be appreciated by workers bearing the brunt of increased prices. If you are considering giving more this year to your valued Building Staff and are concerned they will expect this amount in future years, consider stating in your note with the tip how grateful you are for all they’ve done during this challenging year to set expectations. 

Our friends at Brick Underground publish a go-to holiday tipping guide, which has been circulating since 2013. We condensed it, and put our take on what is appropriate as you budget for your holiday tipping. Remember, these are simply guidelines. There are many factors that can influence the tipping decision such as the size of the building (a larger staff equates to smaller individual tips), level of service, seniority, and time in building. Additionally, owning versus renting in a building can play a big factor as well.

Of course, if you live in a building with a part-time doorman, virtual doorman, or no staff at all, the below levels could be adjusted downward.

Renters: Tips do not have to equate to the dollar amount you are paying each month for rent. If you receive a lot of packages, have a stroller that is carried in and out of the building, etc., factor this into your tip. 

It is recommended that you tip in cash. Doorman, Concierge, Supers, etc. all of bills to pay like you and I- they are not looking for fruit cakes, cookies, or homemade gifts at the holidays!

Many buildings have organized drop off locations for your tips.

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Tipping Guidelines

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Super: $185-$235
Doorman/Concierge: $160-$210
Package Room: $85-$110 per individual*
Housekeeper: 1 Week Salary
Dog Walker: 1 Week Salary
Garage Attendant: $85-$135
Personal Trainer: $135
Personal Assistant: 1 Week Salary
Hairdresser: $90-$130

*It important to remember all the people fielding the large increase in orders you are placing and the sheer volume of orders they are now receiving, just for you alone. We are all ordering more online than ever before from clothes to groceries and meals. From Uber Eats to Amazon and every shopping destination in-between, there is no denying that we all place significantly more online orders than prior to the pandemic. We recommend tipping Package Room staff more than previous years. In most buildings it will be the package room employees, however, Doormen/Concierge are likely fielding these requests after hours.

When: Most building staff will prefer to receive their tips in early December so they can plan their own holiday spending accordingly. Tips account for a large part of building staff’s anticipated income at this time of year.